To gain an edge, this is what you need to know today.
Revised CPI
Please click here for an enlarged version of the chart of SPDR S&P 500 ETF Trust (ARCA:SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
The chart shows the revised CPI data brought in buyers to the stock market.
The chart shows that volume continues to be low. This indicates that so far there is lack of conviction in the move. However, this can change very quickly.
The stock market has been eagerly waiting for CPI revisions as there have been times in the past when such revisions caused major moves in the stock market.
A year ago, when inflation appeared to be coming down, revisions completely changed the picture.
As of this writing, the complete data is not yet available. Here are the details known so far:
Q4 Core CPI is unchanged at 3.3% annualized.
December CPI revised to 0.2% from 0.3%.
December Core CPI is unchanged at 0.3%.
Bond yields are slightly lower after the CPI revisions.
The sum total of the revision data so far is positive for the stock market.
As more data becomes available, it may move the stock market. CPI for January will be released next Tuesday at 8:30am ET.
Adding to the AI frenzy is the news that OpenAI CEO Sam Altman wants to raise $5T – $7T for manufacturing AI chips. He appears to be trying to raise the money from oil rich nations.
As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents. Please scroll down to see the protection band.
Magnificent Seven Money Flows
In the early trade, money flows are positive in Apple Inc (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), Alphabet Inc Class C (NASDAQ: GOOG), Meta Platforms Inc (NASDAQ: META), Microsoft Corp (NASDAQ: MSFT), NVIDIA Corp (NASDAQ: NVDA), and Tesla Inc (NASDAQ: TSLA).
In the early trade, money flows are mixed in SPDR S&P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: QQQ).
Momo Crowd And Smart Money In Stocks
The momo crowd is buying stocks in the early trade. Smart money is inactive in the early trade.
Gold
The momo crowd is inactive in the early trade. Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold…
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